Final Approach - Frequently Asked Questions
Q: What is the Final Approach Program?
A: It is a much clearer, more detailed projection of your retirement funds plus a wealth of other retirement information. Your Retirement Benefit Statement is now available on Jetnet. If you have already viewed your statement, you will notice that the information presented is very limited and potentially confusing. Retirement Advisors of America will prepare a complimentary Final Approach Program® manual for you based on your individual retirement situation.
Q: What does it tell me about my retirement from American Airlines?
A: In this manual you will receive:
1. An individualized Retirement Checklist based on your retirement date starting three years before retirement.
2. An explanation of the retirement process which expands on the retirement checklist and includes detailed information about early retirement, 401K, vacation deferral, and a copy of most of the forms you will be required to complete.
3. A summary of your retirement benefits including medical, insurance and travel benefits.
4. Individualized Retirement Projections showing all annuity and lump sum options for each year between now and retirement, including 401K projections, disability and survivor death benefits prior to retirement from each pension plan.
5. A complete, easy-to-understand description of the retirement plans with your numbers inserted appropriately in the narrative.
6. A Retirement Estimate Worksheet that will show an Early, Normal, or Late Retirement scenario, Early Retirement Loss Analysis, Early Retirement Lock-In Worksheet, and Vacation Deferral Calculation. The Early Retirement Lock-In Worksheet is updated each month during your final 12 months. It calculates the B fund unit value needed each month to move your current lock-in based on pay and benefit loss, early retirement penalties, interest rates, etc., and completely takes the guesswork out of the complicated lock-in process.
7. An A Fund Lump Sum Decision Analysis, which calculates your current and future A Fund lump sum based on various interest rate scenarios caused by pension legislation or Fed policy. The analysis also provides a comparison of early retirement investment options with the A Fund versus normal retirement at possibly higher interest rates.
8. A Withdrawal Longevity Analysis showing all of your estimated sources of retirement income and their projected values over your lifetime using several withdrawal rate scenarios and various growth, income tax and inflation assumptions.
9. A complete Estate Tax and IRA Planning Guide including a survivor checklist, personal organizer and Social Security information.
Q: What information do you need from me to get a Final Approach?
A: If you would like to receive your own individually prepared Final Approach Program® manual, please download the data sheet form and return it to us either by FAX or mail, or you can fill it out on-line and we will contact you when we receive the information. There is an instruction guide attached as well.
Q: Where do I find the information needed for the data sheet?
A: To access your Retirement Statement on Jetnet:
Log on to Jetnet, click on "Benefits" (top tool bar, left side), then click on "Retirement Planning" (lower left), then click on “Pension Statement” (left center). You can also click on a link to get a printed version.
Please call us if you have any questions on the form or about our Final Approach Program®. Our toll free number is 1-800-321-9123 to speak with one of our Financial Consultants. There is absolutely no cost or obligation other than your time to receive this valuable retirement tool, the most comprehensive in the industry.
